Veranda Learning Solutions Limited - Reply to Clarification Sought

26 Jul 2022 , 12:00 AM

The Exchange had sought clarification from Veranda Learning Solutions Limited with respect to announcement dated 15-Jul-2022 informing about subscription of Equity Shares of Wholly Owned Subsidiary in USA. On the basis of aforesaid announcement, the Company was required to provide/clarify the following: 1. Whether the acquisition would fall within related party transactions and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at arms length; 2. Indicative time period for completion of the acquisition. The response of the company is attached.